Gould Capital LLC Sells 200 Shares of Corcept Therapeutics Incorporated $CORT

Gould Capital LLC reduced its position in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 33.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 400 shares of the biotechnology company’s stock after selling 200 shares during the period. Gould Capital LLC’s holdings in Corcept Therapeutics were worth $46,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Public Employees Retirement System of Ohio lifted its position in shares of Corcept Therapeutics by 269.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,859 shares of the biotechnology company’s stock valued at $144,000 after buying an additional 2,086 shares during the last quarter. Victory Capital Management Inc. raised its stake in Corcept Therapeutics by 24.5% in the 1st quarter. Victory Capital Management Inc. now owns 93,418 shares of the biotechnology company’s stock valued at $10,670,000 after acquiring an additional 18,389 shares during the period. Sumitomo Mitsui Trust Group Inc. acquired a new stake in Corcept Therapeutics during the 1st quarter valued at $331,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Corcept Therapeutics during the 1st quarter worth about $355,000. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Corcept Therapeutics during the first quarter worth approximately $384,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CORT. Piper Sandler lowered their target price on Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating on the stock in a research note on Friday, August 1st. Truist Financial set a $135.00 price objective on Corcept Therapeutics in a research report on Tuesday, May 6th. HC Wainwright reduced their target price on shares of Corcept Therapeutics from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Canaccord Genuity Group decreased their price target on shares of Corcept Therapeutics from $142.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday, August 1st. Finally, Wall Street Zen lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, Corcept Therapeutics currently has a consensus rating of “Buy” and an average price target of $134.50.

Insider Activity

In other news, insider Sean Maduck sold 35,007 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $67.79, for a total value of $2,373,124.53. Following the completion of the transaction, the insider directly owned 7,681 shares in the company, valued at approximately $520,694.99. The trade was a 82.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph K. Belanoff sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $82.86, for a total transaction of $3,314,400.00. Following the sale, the chief executive officer directly owned 2,901,985 shares of the company’s stock, valued at approximately $240,458,477.10. This trade represents a 1.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 222,215 shares of company stock valued at $16,311,201 in the last 90 days. 20.80% of the stock is owned by corporate insiders.

Corcept Therapeutics Price Performance

Shares of NASDAQ CORT opened at $70.98 on Friday. The business has a fifty day moving average price of $71.18 and a two-hundred day moving average price of $69.40. The stock has a market capitalization of $7.48 billion, a PE ratio of 62.81 and a beta of 0.20. Corcept Therapeutics Incorporated has a fifty-two week low of $33.34 and a fifty-two week high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. The company had revenue of $194.43 million for the quarter, compared to analysts’ expectations of $199.40 million. Corcept Therapeutics had a return on equity of 20.10% and a net margin of 18.51%.Corcept Therapeutics’s revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the business earned $0.32 earnings per share. Corcept Therapeutics has set its FY 2025 guidance at EPS. On average, equities analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

About Corcept Therapeutics

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.